Construction Accounting Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering, Deployment, and Application

List of Tables

The construction accounting software market is expected to grow from US$ 943.91 million in 2022 to US$ 1,217.42 million by 2028; it is expected to grow at a CAGR of 6.3% from 2022 to 2028.

The construction accounting software market players use dedicated servers and data centers to store customer data and the company's crucial information and plan samples. Several companies across industries face a significant threat from cyber attackers, and in the recent past, numerous cyber-attacks have been recorded. The data loss affects the reputation of accounting software providers, ultimately resulting in financial loss. To eliminate the risk of customer data loss and financial crisis, construction accounting software developing companies invest significant amounts in enhancing their security systems. The players are also developing and integrating robust anti-cyberthreat solutions to prevent the loss of crucial information and data. Thus, by strengthening the security level with advanced encryption patches and using a robust anti-piracy or anti-cyberthreat solution, the companies are expected to attract increased clientele and propel financial growth. This factor is anticipated to boost the construction accounting software market growth in the coming years.

APAC is expected to register the highest CAGR in the construction accounting software market from 2022 to 2028. The growing population in India and China is raising the demand for commercial and residential infrastructure. Currently, China is witnessing various construction projects. For instance, in Q1 of 2022, a project for constructing a 56 km metro railway line in Foshan, Guangdong, started, which is expected to be completed in 2026. Similarly, the construction project of a 28 km metro rail line between Chuansha Road Station to Dongjing Road Station in Shanghai commenced in Q1 2022 and is expected to be completed in 2027. Thus, all such construction projects are expected to support the growth of the construction industry in the region, thereby fueling the construction accounting software market growth in the region. The economic growth within the MEA is attracting investors' attention to countries such as Saudi Arabia and the UAE, which is anticipated to create opportunities for construction projects. In addition, the increase in construction projects, such as commercial and residential infrastructure, is raising the penetration of construction accounting software in the MEA. In SAM, Brazil holds a significant market share. In the context of the construction industry, the government invested ~US$ 167 million in 762 infrastructure projects to improve the conditions of Brazilian tourist cities in 2021. Moreover, publicly funded infrastructure projects such as the "My House, My Life" program will further boost the construction industry's growth. Such government initiatives will help stimulate the development of the construction industry in the region. Moreover, the region promotes economic growth via increased public spending and a rise in infrastructural growth to assist private sector development; this is further expected to contribute to the construction industry's business growth. Thus, the more construction projects, the higher the penetration of construction accounting software will be.

The COVID-19 crisis drastically affected two huge markets in APAC-India and China. Lockdowns and temporary shutdowns of construction sites across major countries in Asia Pacific and huge disruption of the supply chain of various materials and goods greatly impacted the construction industry. This caused serious delays in the construction of roads, schools, hospitals, ports, airports, and other critical pieces of infrastructure financed by public-private partnerships in Asia Pacific. All these factors negatively affected the adoption of construction accounting software in Asia Pacific.

However, in 2021, governments across Asia Pacific started investing heavily in infrastructure. According to the National Development and Reform Commission (NDRC), China has resumed construction on under 90% of key projects. All major railway projects have resumed operation, with 97% of major highway and waterway projects and 87% of airport projects also resuming construction in 2021. Such recovery in the construction industry will further boost the construction accounting software market growth in Asia Pacific.

The construction accounting software market is segmented based on offering, deployment, application, and geography. Based on offering, the construction accounting software market is segmented into solution and services. Based on deployment, the construction accounting software market is bifurcated into on premise and cloud. Based on application, the market is segmented into small and mid-sized construction companies and large construction companies.

Based on geography, the construction accounting software market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, and the Rest of Europe), Asia Pacific (Australia, Japan, South Korea, India, China, and the Rest of APAC), the MEA (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).

The overall construction accounting software market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the construction accounting software market. The process also obtains an overview and forecast for the market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, external consultants, valuation experts, research analysts, and key opinion leaders specializing in the construction accounting software market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global construction accounting software market.

Highlights key business priorities in order to assist companies to realign their business strategies

The key findings and recommendations highlight crucial progressive industry trends in the Global construction accounting software market, thereby allowing players across the value chain to develop effective long-term strategies

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

Product Code: TIPRE00010990

1. Introduction

1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 Global Construction Accounting Software Market - By Offering
- 1.3.2 Global Construction Accounting Software Market - By Deployment
- 1.3.3 Global Construction Accounting Software Market - By Application
- 1.3.4 Global Construction Accounting Software Market - By Geography

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Construction Accounting Software Market Landscape

4.1 Market Overview
4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Construction Accounting Software Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Construction Industry
- 5.1.2 Rising Penetration of ERP Modules in Construction Industry
5.2 Market Restraints
- 5.2.1 High Reliance on Traditional Accounting Tools
5.3 Market Opportunities
- 5.3.1 Increasing Awareness of Implementing Technologies in Construction Industry
5.4 Future Trends
- 5.4.1 Enhancing Data Security to Prevent Data Loss
5.5 Impact Analysis of Drivers and Restraints

6. Construction Accounting Software Market - Global Market Analysis

6.1 Global Construction Accounting Software Market Overview
6.2 Global Construction Accounting Software Market Forecast and Analysis
6.3 Market Positioning- Top Five Players

7. Construction Accounting Software Market Analysis - By Offering

7.1 Overview
7.2 Construction Accounting Software, by Offering (2021 and 2028)
7.3 Solution
- 7.3.1 Overview
- 7.3.2 Solution: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Services
- 7.4.1 Overview
- 7.4.2 Services: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)

8. Construction Accounting Software Market Analysis - By Deployment

8.1 Overview
8.2 Construction Accounting Software, by Deployment (2021 and 2028)
8.3 Cloud
- 8.3.1 Overview
- 8.3.2 Cloud: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
8.4 On-Premise
- 8.4.1 Overview
- 8.4.2 On Premise: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)

9. Construction Accounting Software Market - By Application

9.1 Overview
9.2 Construction Accounting Software, by Application (2021 and 2028)
9.3 Small and Mid-sized Construction Companies
- 9.3.1 Overview
- 9.3.2 Small and Mid-Sized Construction Companies: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Large Construction Companies
- 9.4.1 Overview
- 9.4.2 Large Construction Companies: Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)

10. Construction Accounting Software Market - Geographic Analysis

10.1 Overview
10.2 North America: Construction Accounting Software Market
- 10.2.1 North America: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Construction Accounting Software Market- by Offering
- 10.2.3 North America: Construction Accounting Software Market- by Deployment
- 10.2.4 North America: Construction Accounting Software Market- By Application
- 10.2.5 North America: Construction Accounting Software Market- by Country
  - 10.2.5.1 US: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.1.1 US: Construction Accounting Software Market- by Offering
    - 10.2.5.1.2 US: Construction Accounting Software Market- by Deployment
    - 10.2.5.1.3 US: Construction Accounting Software Market- By Application
  - 10.2.5.2 Canada: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.2.1 Canada: Construction Accounting Software Market- by Offering
    - 10.2.5.2.2 Canada: Construction Accounting Software Market- by Deployment
    - 10.2.5.2.3 Canada: Construction Accounting Software Market- By Application
  - 10.2.5.3 Mexico: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.3.1 Mexico: Construction Accounting Software Market- by Offering
    - 10.2.5.3.2 Mexico: Construction Accounting Software Market- by Deployment
    - 10.2.5.3.3 Mexico: Construction Accounting Software Market- By Application
10.3 Europe: Construction Accounting Software Market
- 10.3.1 Europe: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Construction Accounting Software Market- by Offering
- 10.3.3 Europe: Construction Accounting Software Market- by Deployment
- 10.3.4 Europe: Construction Accounting Software Market- By Application
- 10.3.5 Europe: Construction Accounting Software Market- by Country
  - 10.3.5.1 Germany: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.1.1 Germany: Construction Accounting Software Market- by Offering
    - 10.3.5.1.2 Germany: Construction Accounting Software Market- by Deployment
    - 10.3.5.1.3 Germany: Construction Accounting Software Market- By Application
  - 10.3.5.2 France: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.2.1 France: Construction Accounting Software Market- by Offering
    - 10.3.5.2.2 France: Construction Accounting Software Market- by Deployment
    - 10.3.5.2.3 France: Construction Accounting Software Market- By Application
  - 10.3.5.3 Italy: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.3.1 Italy: Construction Accounting Software Market- by Offering
    - 10.3.5.3.2 Italy: Construction Accounting Software Market- by Deployment
    - 10.3.5.3.3 Italy: Construction Accounting Software Market- By Application
  - 10.3.5.4 UK: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.4.1 UK: Construction Accounting Software Market- by Offering
    - 10.3.5.4.2 UK: Construction Accounting Software Market- by Deployment
    - 10.3.5.4.3 UK: Construction Accounting Software Market- By Application
  - 10.3.5.5 Russia: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.5.1 Russia: Construction Accounting Software Market- by Offering
    - 10.3.5.5.2 Russia: Construction Accounting Software Market- by Deployment
    - 10.3.5.5.3 Russia: Construction Accounting Software Market- By Application
  - 10.3.5.6 Rest of Europe: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.6.1 Rest of Europe: Construction Accounting Software Market- by Offering
    - 10.3.5.6.2 Rest of Europe: Construction Accounting Software Market- by Deployment
    - 10.3.5.6.3 Rest of Europe: Construction Accounting Software Market- By Application
10.4 Asia Pacific (APAC): Construction Accounting Software Market
- 10.4.1 APAC: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.2 APAC: Construction Accounting Software Market- by Offering
- 10.4.3 APAC: Construction Accounting Software Market- by Deployment
- 10.4.4 APAC: Construction Accounting Software Market- By Application
- 10.4.5 APAC: Construction Accounting Software Market- by Country
  - 10.4.5.1 Australia: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.1.1 Australia: Construction Accounting Software Market- by Offering
    - 10.4.5.1.2 Australia: Construction Accounting Software Market- by Deployment
    - 10.4.5.1.3 Australia: Construction Accounting Software Market- By Application
  - 10.4.5.2 China: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.2.1 China: Construction Accounting Software Market- by Offering
    - 10.4.5.2.2 China: Construction Accounting Software Market- by Deployment
    - 10.4.5.2.3 China: Construction Accounting Software Market- By Application
  - 10.4.5.3 India: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.3.1 India: Construction Accounting Software Market- by Offering
    - 10.4.5.3.2 India: Construction Accounting Software Market- by Deployment
    - 10.4.5.3.3 India: Construction Accounting Software Market- By Application
  - 10.4.5.4 Japan: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.4.1 Japan: Construction Accounting Software Market- by Offering
    - 10.4.5.4.2 Japan: Construction Accounting Software Market- by Deployment
    - 10.4.5.4.3 Japan: Construction Accounting Software Market- By Application
  - 10.4.5.5 South Korea: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.5.1 South Korea: Construction Accounting Software Market- by Offering
    - 10.4.5.5.2 South Korea: Construction Accounting Software Market- by Deployment
    - 10.4.5.5.3 South Korea: Construction Accounting Software Market- By Application
  - 10.4.5.6 Rest of APAC: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.6.1 Rest of APAC: Construction Accounting Software Market- by Offering
    - 10.4.5.6.2 Rest of APAC: Construction Accounting Software Market- by Deployment
    - 10.4.5.6.3 Rest of APAC: Construction Accounting Software Market- By Application
10.5 Middle East & Africa (MEA): Construction Accounting Software Market
- 10.5.1 MEA: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.2 MEA: Construction Accounting Software Market- by Offering
- 10.5.3 MEA: Construction Accounting Software Market- by Deployment
- 10.5.4 MEA: Construction Accounting Software Market- By Application
- 10.5.5 MEA: Construction Accounting Software Market- by Country
  - 10.5.5.1 South Africa: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.1.1 South Africa: Construction Accounting Software Market- by Offering
    - 10.5.5.1.2 South Africa: Construction Accounting Software Market- by Deployment
    - 10.5.5.1.3 South Africa: Construction Accounting Software Market- By Application
  - 10.5.5.2 Saudi Arabia: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.2.1 Saudi Arabia: Construction Accounting Software Market- by Offering
    - 10.5.5.2.2 Saudi Arabia: Construction Accounting Software Market- by Deployment
    - 10.5.5.2.3 Saudi Arabia: Construction Accounting Software Market- By Application
  - 10.5.5.3 UAE: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.3.1 UAE: Construction Accounting Software Market- by Offering
    - 10.5.5.3.2 UAE: Construction Accounting Software Market- by Deployment
    - 10.5.5.3.3 UAE: Construction Accounting Software Market- By Application
  - 10.5.5.4 Rest of MEA: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.4.1 Rest of MEA: Construction Accounting Software Market- by Offering
    - 10.5.5.4.2 Rest of MEA: Construction Accounting Software Market- by Deployment
    - 10.5.5.4.3 Rest of MEA: Construction Accounting Software Market- By Application
10.6 South America (SAM): Construction Accounting Software Market
- 10.6.1 SAM: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.2 SAM: Construction Accounting Software Market- by Offering
- 10.6.3 SAM: Construction Accounting Software Market- by Deployment
- 10.6.4 SAM: Construction Accounting Software Market- By Application
- 10.6.5 SAM: Construction Accounting Software Market- by Country
  - 10.6.5.1 Brazil: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.1.1 Brazil: Construction Accounting Software Market- by Offering
    - 10.6.5.1.2 Brazil: Construction Accounting Software Market- by Deployment
    - 10.6.5.1.3 Brazil: Construction Accounting Software Market- By Application
  - 10.6.5.2 Argentina: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.2.1 Argentina: Construction Accounting Software Market- by Offering
    - 10.6.5.2.2 Argentina: Construction Accounting Software Market- by Deployment
    - 10.6.5.2.3 Argentina: Construction Accounting Software Market- By Application
  - 10.6.5.3 Rest of SAM: Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.5.3.1 Rest of SAM: Construction Accounting Software Market- by Offering
    - 10.6.5.3.2 Rest of SAM: Construction Accounting Software Market- by Deployment
    - 10.6.5.3.3 Rest of SAM: Construction Accounting Software Market- By Application

11. Construction Accounting Software Market - COVID-19 Impact Analysis

11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific (APAC)
11.5 Middle East and Africa (MEA)
11.6 South America (SAM)

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition

13. Company Profiles

13.1 Acclivity Group LLC
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Chetu Inc
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Corecon Technologies Inc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Deltek Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Foundation Software LLC
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 FreshBooks USA Inc
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Intuit Inc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Sage Group Plc
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Viewpoint Inc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Xero Ltd
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Glossary